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20110701
20110731
Search Results 0 to 8 of about 9 (some duplicates have been removed)
in our team covering it this morning. jake tapper, jon karl on capitol hill. jon, given the deadlock, the senate republican leader mitch mcconnell says he doesn't think a deal can be reached, so he's come up with a last-ditch fallback which puts the burden on the president. >> reporter: last choice option, only if the talks completely collapse. it's complicated but the bottom line is, it would give the president the auththity on his own to gradually raise that debt ceiling by $2.5 trillion between now and the election. the political burden is all the president's. he can do it without spending cuts and even in the face of opposition from the majority in congress. but i've got to tell you, george i talked to a lot of republicans in the house, rank and file, who say it's not acceptable. they want real spending cut, a lot of them and nothing else. >> there's no guarantee of spending cuts even though it would avoid tax increases. let me bring in jake tapper for the response on that. any openness in the white house to that and where do they think the talks are right now? are they as pessim
. >> jon kyl was in negotiations as you know with the vice president. and he said there were certain revenue raisers and other areas that perhaps we could work on. >> reporter: senator john mccain won't say exactly what revenue raisers are. but he says he and some other republicans aren't necessarily opposed. it sounds a lot like what president obama and democrats have been asking for. but republicans insist that if revenue raisers is code for tax increases, that's a deal breaker. senator john cornyn says he's no fan of a debt ceiling extension, but it may have to happen. >> the problem with a mini deal, we have a maxi problem. and big problems aren't going to go away if you cut a mini deal. >> reporter: he blasted an idea suggested by some democrats that the u.s. constitution empowers the president to keep on spending even if uncle sam goes over his credit limit. brian mooar, nbc news, washington. >>> here is your first look at some of the other news going on around america today. a violent thunderstorm tore through washington, d.c., yesterday where a 56-year-old cyclist was killed
, quickly. politico is reporting this, the campaign manager for jon huntsman is leaving her post, quitting. politico reporting the former utah governor is retooling his campaign. staff changes have to do with entering a more aggressive phase. they could do that. >> more aggressive. >> it's easy. it's not the best. the idea of running for president and the reality of doing it heads that way. the campaigns shuffle. >> i think if you sell that, governor, you could sell that as could i. i think jon huntsman may want to speak above a whisper. that may help. >> there's overcorrecting. >> well, with perry out there looming large you better claim your ground now. >> is perry getting in? >> he will. >> first moves. >> come on. >> he bounces around. >> yes. >> he's still a bad imitation of will ferrell imitating george w. bush. >> it's true. i sit there watching this guy go on. i'm like is this an "snl" -- i keep waiting for "snl" to go across the bottom. seriously. >> you guys are terrible. >> no. no. >> come on. >> i know we hear he's doing great and more jobs and taxes than on the planet in $8 bi
markets. let's get a reality check from abc's countdown team. jake tapper at the white house. jon karl on capitol hill. bianna golodryga from the new york stock exchange. looking at the asian and european markets overnight, there seems to be concern but not panic yet, bianna. >> reporter: that's right. wall street seems to be patient with washington. markets opening blower. just about 130 points lower. not the knee jerk reaction that people were fearful of. things are still at an impasse. even though the markets aren't selling off, people are concerned about what's still on the table a credit downgrade. the s&p says the u.s. could lose its aaa ratings in the next three months. that would mean that interest rates go higher. it would be more difficult for people to get a loan out there. and it could be a big burden for this economy, as we're just starting to recover. george? >> jon, they had been hoping on capitol hill to come up with some sort of deal before the markets opened today. that has not happened. it seems, the only thing that everyone seems to be accepting th
? >> jon, they had been hoping on capitol hill to come up with some sort of deal before the markets opened today. the only thing that everyone seems to be accepting that any deal won't include any new tax increase. >> that's the big deal. you have harry reid coming up with a plan for democrats. that he says includes $2.7 trillion in spending cuts over the next ten years and gives the president the debt ceiling increase that takes him all of the way to 2013. republicans are already saying that those -- his plan includes gimmicks and phantom cuts. so the republicans are coming up with their plan, which would include about $1 trillion in cuts now. it would require the president to come back to congress next year to ask for another debt ceiling increase. >> that's the huge sticking point for the white house. the president has made it clear time and time again that he won't sign a short-term increase. he squashed it at the meeting last night. >> republicans leaders have said that as well. they didn't want any short-term solution to this problem. they changed their tune on this. white house said
Search Results 0 to 8 of about 9 (some duplicates have been removed)